RICHMOND, BC, Jan. 5, 2012 /CNW/ - Huntingdon Capital Corp. ("Huntingdon" or the "Corporation") (TSX: HNT, HNT.DB and HNT.WT) announced today that it has closed the sale of a surface parking lot in Winnipeg, Manitoba known as 245 Graham for $5.0 million. The sale resulted in net cash to Huntingdon of approximately $2.6 million after expenses, closing adjustments and the repayment of approximately $2.2 million of first mortgage debt. The sale price reflects a cap rate of approximately 4.0% and is approximately $3.0 million greater than Huntingdon's cost basis.
About the Corporation:
The Corporation owns, directly or indirectly, 75 income producing office, industrial and retail properties that have a total gross leasable area of 5.5 million square feet.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
For further information:
Zachary R. George, Trustee, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101